Treasurer & Chief Financial Officer, Coherent
Search every verified Sherri Luther interview, podcast appearance, and on-the-record quote — each transcript cross-checked by AI and human review to confirm speaker identity. Sherri Luther, Treasurer and Chief Financial Officer at Coherent, previously served as CFO of Lattice Semiconductor. In a September 2021 roundtable discussion, Luther described steps she took at Lattice to improve financial performance, including implementing key metrics, refinancing debt to reduce leverage from over 5x to 1.3 and the interest rate from over 7% to about 1.5%, and rationalizing R&D projects to focus on those with the highest ROI. She stated that the company increased gross margin by 450 basis points from 2018 and achieved double-digit revenue growth in key market segments. Luther also discussed her management philosophy, saying she established a culture of rigor and accountability where employees develop plans to achieve goals. She emphasized that finance should have a seat at the table in all functional areas and that her team participates in staff meetings of executive leaders to contribute strategically. Luther advised aspiring CFOs to adopt the mindset of the role they seek, seek mentors in various areas, and continuously pursue self-development, noting she was pursuing an executive MBA.
“When I joined Lattice, one of the first things I did was put key metrics in place to manage the business. My motto is what gets measured gets done. We've increased our gross margin by 450 basis points from 2018 to our most recent quarter and significantly reduced SG&A spending while continuing to invest in R&D and the...”
“When I joined the company, the debt leverage was over 5x with very expensive debt at over 7% interest. We refinanced quickly, reducing the leverage ratio to 1.3 and the interest rate to about 1.5%, significantly improving the balance sheet and cash generation.”
“We've achieved double-digit revenue growth in our key market segments of communications, compute, industrial, and automotive, with 28% growth in communications and compute and 20% in industrial and automotive in the most recent quarter.”
“One of the key changes was establishing a culture of rigor and discipline where people develop plans to achieve goals and are held accountable. Previously, many had goals but no plan, and that changed the way we operate and achieve results.”
“Finance must always have a seat at the table. My team participates in staff meetings of all functional executive leaders to add value, such as calculating ROI for R&D projects. Being involved early ensures finance can contribute strategically.”
“We rationalized R&D projects to focus on those with the highest ROI, canceling many science projects that did not align with core FPGA business. This focus motivated the R&D team and improved product development pace.”
“If you want to be a CFO, look in the mirror and tell yourself that you are a CFO and act like one. Act with the mindset and strategic thinking of the role you aspire to.”
“Mentorship is critical. I encourage people to seek mentors in different areas, including bosses, peers, and network contacts. Mentors provide guidance in various aspects of your career and help open doors to new opportunities.”
“The way I manage my team is by avoiding surprises. We set goals but agree upfront if priorities change that might cause us to miss goals. The key is transparency and managing expectations continuously.”
“Continuous improvement is key. You can never know enough or do enough. I am pursuing an executive MBA to keep developing myself. It's humbling to always have more to learn and do.”
Armanino is excited to host a unique roundtable discussion with Portland Business Journal's 2020 CFO of the Year – Sherri ...
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